It is debatable how much other Decatur taxpayers should spend in taxes to foster economic development downtown. The community should occasionally debate whether the benefits of an exciting downtown warrant any expenditure.
Most of us believe that a vibrant, safe and exciting downtown adds to our quality of life in Decatur and is tied to a healthy economy thoughout the community. Most cities that are reknowned for a local economic recovery have done so with a resurgence of the downtown area. Most economically strong communities have a strong downtown core with entertainment, dining and residents. However, so long as our community is declining in population and suffers from a higher tax burden that alternative communities, we must be very efficient with the use of taxpayer resources for any local investments.
We believe that "A Better Idea" for revitalizing the downtown area is to enact local (or state) legislation that allows businesses in the downtown area to offer lower taxes than suburban communities and competing communities (i.e. Springfield, Champaign and Bloomington). At last night's Council meeting we suggested that a low tax zone be established in downtown Decatur. Here is our proposal:
Alternative Downtown Development Concept
- Create a redevelopment zone to rebate sales and property taxes within 2000 feet of Main and Main for a period of up to ten years.
- Taxing districts should enter into an intergovernmental downtown “TIF like” development agreement that provides that property taxes in the TIF will be no more than the greater of i.) 2% of the fair market value of real estate or ii.) the current property taxes levied in 2006.
- Sales taxes should be rebated back to property owners/business owners in the downtown TIF development district enabling them to offer customers sales tax rates on all sales (including food and beverage) at no more than 6.25%.
Of course others may have better ideas or even mount objections. Yet, this proposal if enacted would provide significant incentives for stores and restaurants to move downtown to offer their customers a much better shopping and entertainment value.
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